Apple target lifted on China demand - Wedbush

Apr. 09, 2019 7:38 AM ETApple Inc. (AAPL)AAPLBy: Brandy Betz, SA News Editor52 Comments
  • Wedbush maintains an Outperform rating on Apple (NASDAQ:AAPL) and raises the target from $215 to $225 citing demand trends that are "slowly turning around" in China after the recent iPhone XR price cut.
  • Analyst Daniel Ives expects "more significant" cuts in China to avoid a "code red" demand situation.
  • Ives says the cuts are "a smart and necessary strategy" even with investor concerns about top-line impact. Apple's Services growth will be driven off the user base size and China is "a key ingredient in Apple’s future recipe for success."
  • Apple shares are up 0.5% pre-market to $201.

Recommended For You

Comments (52)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.